Main Street Registry

Piero Pizza Highland Park LLC

Highland Park, IL · Limited-Service Restaurants · NAICS 722513

Piero Pizza Highland Park LLC is a limited-service restaurant in Highland Park, Illinois, in the Limited-Service Restaurants industry (NAICS 722513). The company was financed with an SBA 7(a) loan for a change of ownership of $1,993,000, approved on July 26, 2024 by The Huntington National Bank and reported with 14 jobs.

SBA 7(a) loan, change of ownership, approved Jul 26, 2024

$1,993,000 approvedLender: The Huntington National Bank175 months termStatus not reported (SBA exemption)Loan details
Gross approval
$1,993,000
SBA-guaranteed amount
$1,494,750 (75% of the approval)
Lender
The Huntington National Bank, Columbus, OH
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10.5%, variable
Term
14 years, 7 months (175 months)
Estimated maturity
February 26, 2039 (estimated, approval date plus term)
Estimated monthly payment
$22,292 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Jul 29, 2024
Loan status
Status not reported (SBA exemption)
Jobs supported
14
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
Lake County, IL
SBA district office
Illinois District Office
Congressional district
IL-10
Collateral
Yes
Guaranteed portion sold on secondary market
Not reported as sold
Revolving line of credit
No (term loan)
  • Larger than 84% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Illinois: $1,796,780.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Illinois